Posted: February 11th, 2023
Refer to the scenario located in the “Analyze, Think, Communicate” section 12-5 of Ch. 12, “Job-Order, Process, and Hybrid Costing Systems” of Fundamental Managerial Accounting Concepts. This scenario involves an altercation between Rene Alverez and Bill Sawyer and requires you to weigh in with calculations and comments on the matter.
Read the scenario and complete the activity below.
Compute the equivalent cost per unit, assuming the ending inventory is considered to be 40 percent complete.
Compute the equivalent cost per unit, assuming the ending inventory is considered to be 60 percent complete.
Write a 350-word summary of your calculations and findings. Comment on Mr. Sawyer’s motives for establishing the percentage of completion at 60 percent rather than 40 percent.
Submit calculations and summary.
SOLUTION
“Analyze, Think, Communicate” is a phrase that emphasizes the importance of a systematic and thorough approach to problem solving and decision making.
“Analyze” suggests that one should carefully examine the situation at hand and gather all relevant information. This step requires a critical evaluation of data, identification of patterns, and examination of potential biases.
“Think” implies taking time to reflect on the information gathered, considering different perspectives and options, and generating creative solutions. This step requires imagination, curiosity, and the ability to make connections between seemingly disparate ideas.
“Communicate” stresses the importance of effectively sharing one’s thoughts and ideas with others. This step requires clear and concise expression, active listening, and the ability to collaborate with others to reach a common understanding and solution.
By following these ste
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